Triasima Portfolio Management inc. Takes Position in Lennar Corporation $LEN

Triasima Portfolio Management inc. bought a new stake in Lennar Corporation (NYSE:LEN) in the third quarter, HoldingsChannel reports. The fund bought 20,550 shares of the construction company’s stock, valued at approximately $2,590,000.

Several other institutional investors also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after acquiring an additional 85 shares during the last quarter. ORG Wealth Partners LLC raised its holdings in Lennar by 5.2% in the third quarter. ORG Wealth Partners LLC now owns 2,072 shares of the construction company’s stock valued at $261,000 after buying an additional 102 shares during the period. Harbor Investment Advisory LLC grew its stake in Lennar by 39.7% during the third quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after buying an additional 115 shares during the period. Brighton Jones LLC increased its position in shares of Lennar by 6.1% in the second quarter. Brighton Jones LLC now owns 2,049 shares of the construction company’s stock worth $227,000 after acquiring an additional 118 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in shares of Lennar by 1.9% in the 2nd quarter. Coldstream Capital Management Inc. now owns 6,430 shares of the construction company’s stock valued at $711,000 after acquiring an additional 120 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Lennar Price Performance

LEN opened at $118.47 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $116.88 and its 200 day moving average price is $121.76. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The firm has a market cap of $30.21 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 1.37 and a beta of 1.42.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a net margin of 6.08% and a return on equity of 9.27%. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the company posted $4.03 earnings per share. As a group, sell-side analysts expect that Lennar Corporation will post 12.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

LEN has been the subject of several recent research reports. Zacks Research downgraded Lennar from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th. Barclays lowered their target price on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research note on Thursday, December 18th. Raymond James Financial downgraded shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Citigroup dropped their price target on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Wall Street Zen downgraded Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Lennar has a consensus rating of “Reduce” and an average target price of $106.38.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.